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Unformatted text preview: Q D = 10000 40P and the SUPPLY of KISS tickets is: Q S = -200 + 62P 1. Find the Equilibrium PRICE (P*) and Quantity(Q*) 2. Find the TOTAL REVENUE from ticket sales 3. Estimate CONSUMER SURPLUS. 4. If KISS held a free concert in Bethlehem, how many people would come? 5. How much would you pay for a KISS ticket? What quantity would Ticketmaster sell at that price?...
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This note was uploaded on 02/26/2008 for the course ECO 001 taught by Professor Gunter during the Fall '06 term at Lehigh University .
- Fall '06